Now the general idea is that a body takes a home loan to purchase a house and a personal loan to defray marriage related expenses ,to take that vacation in Europe etc…..

Home loans are always secured loans. So the rate of interest generally tends to be much lower than almost any category of loan. And then of course for being such a good child ,the government gives you tax breaks too ! But there are cases where a personal loan is your best way forward to become a home-owner. Consider the following cases:

1.A place like Vasai-Virar might be one of the fastest growing regions in the MMR when it comes to lower priced homes that could also potentially make great capital investments. But start making enquiries and you will start finding out that a whole lot of properties are “Collector Passing” and that apart from the odd co-operative bank or the occasional patpedhi, no home loans to purchase such properties is possible from most lenders. Moreover, the interest rates of loans from these sources makes personal loans from major banks look attractive. Read more of this post

A personal line of credit is a type of loan that is extended to individuals from a bank or a lending institution. It allows the individual to maintain a maximum loan balance account with the lending institution, from which he/she can borrow amounts that are lower than or equal to the credit limit as and when the need arises. The borrowing limits, interest rates, minimum monthly payment, the tenure are all decided while establishing the line of credit . Read more of this post

There might come a time when you are considering taking a bill consolidation loan to consolidate your debts. This will help to put all of your debts into one loan and give you one payment and one interest rate to make every month. Having this will help you to pay off your debt quicker and will allow for a total payment to be smaller every month. When you set out to look for your bill consolidation loan you will find that a lender will offer you two different types. These are a secured loan and an unsecured loan. Before deciding what type of loan is best for you it is important to know the difference between the two.

A couple of days back my attention was drawn to the US Payday Loans Lenders Recourse website: UStatesLoans.com .You can read more about this outfit here:Link

For those of you who need some background about payday loans:

A payday loan (also called a payday advance) is a small, short-term unsecured loan, “regardless of whether repayment of loans is linked to a borrower’s payday”.The loans are also sometimes referred to as “cash advances”. Payday advance loans rely on the consumer having previous payroll and employment records. Legislation regarding payday loans varies widely between different countries and, within the USA, between different states. Read more of this post